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Informatic and Financial Applications: Case of AMP Limited

University: University of the sunshine Coast

Code : ACC508


Assignment Requirements:

Question 1: Report                                                                                    

In this report you will be demonstrating your skill in academic writing and presentation skills. We will be carefully looking at your word skills in this report. In this report you will be reporting on financial applications and information systems.  Please pick an industry such as Banking, retailing etc. and discuss the following sections with reference to this industry.  If you are unsure what industry to choose, please choose Retail.  If you prefer you could pick one organisation.  

This report should contain

  1. A title page and should include the below.
    1. The name of the course
    2. The assignment number and description    
    3. Your name and student number
    4. A picture illustrating your reports content
  1. An executive summary containing a short summary of the report. 
  2. A Table of Contents – This must be generated by word and not created manually.
  3. A Table of Figures – This must be generated by word and not created manually.
  4. The body of the report with the following sections.
    1. An  introduction, explaining the contents of your report.
    2. Decision Support Systems (DSS) and business. In this section you should briefly talk how DSS might be used in modern business. 
    3. Cloud Computing and Business. In this section you should discuss the  opportunities that cloud computing might bring to your industry.  
    4. A conclusion section.
  5. In the report you need to include a header section showing the name of the course and the description of this assignment.

Answer

Executive summary: 

In this report, by the help of AMP Limited organization that works by supporting the customers with financial part will grow with the consideration of several operational and technological processes that help for the further development of the entire thing. Operating systems in the financial position will further culminate marketing of the organization, engineering and product along with different service development, operation technique maintenance and the most important part being the accounts and the financing of the organization. Marketing part will enclose with order entry, distribution statistics, forecasting, sales quota control, demand and supply of services history and building the services and products for gaining customer satisfaction. The engineering standards and the bill of material along with project planning and control need to be in a proper place so that any further process can maintain in a systematic way. Other than that purchase commitment, inventory costing, capacity planning, direct and indirect labor budgeting and the accounts payable need to be particular for the organization. Furthermore, the report will put emphasis to the development of budget system along with the performance of the organization in the market so that it can help for the actual development and growth of the organization. 

Question 1: Report

Introduction:


Finance and accounting system in the business criteria will help for the development of the entire organizational growth that creates a strong acknowledgement to the business in future. The finance and accounting policy in the organization will serve as the main goal for the subsystems that also considers the business functioning as a whole system (Werner, 2014). Finally, it helps to ensure the financial viability of the particular organization, enforcing the financial discipline and ultimately monitor and plan for the entire financial budget (Lahmiri, 2017). The financial accounting system helps in creating the point where the organization can able to deliver the successful orientation for the forecasting of different revenues and it will eventually determine the best resources and some of the usages of funds and maintaining along with managing the resources that is connected with financial resources. In this study, the case will put the focus on the development and several other accounting criteria that the company AMP Limited has applied to its banking management system and create a strategic viewpoint for the development of the organization in the national and global market. 

Decision support system:

As a financial support system the AMP Limited company has created their plans and management in such a way that develop a strong point for the organization to enhance their position in the market and it will help for the further orientation of the customers in the market. the insurance policy, product development, customer services, banking products process and other loans related criteria all get dealt by the organization in a perfect way and the customers get full support from the entire criteria (Blankespoor et al. 2013). Headquartered in Sydney the company is progressing with the view that they can serve the customers will perfect thing and fulfill their each demand in the accounting system so that it can become easy for the customers to invest and money and take support from the company. Decision support system of the company is one of the most successful things that based on various criteria and eventually processing with the perfect market consideration for better future success and growth (Sawabe, 2015). The strategic planning process is the one part in decision support system that creates the powerful statement for the company in national and international market. 


Figure 1: Decision Support System

( Source: Blankespoor et al. 2013, p. 1147)

Decisions in the category of accounting policy will take long time period and usually it involve a large investment and effort from the organization that AMP Limited comprises their business structure. The strategic planning process will help for the management decision-making criteria like from the top level managers to the other employees of the organization and those taken decisions in which the decision maker develops several objectives and allocates resources to achieve those objectives in a perfect way (Flesher et al. 2017). In modern business, it is essential to have the commercial solutions and the future proposes for the general application in accounting and operational management technique. 

Cloud computing and business:


The cloud computing system in the organization helps for the growth and development of the entire organization. The cloud computing system will help for the regulatory framework so that the critical business data regarding the accounting and the financing process can be served and developed particularly by the help for the organizational cloud computing technique (Hayden, 2014). The skill and the acknowledgement of the organizational financial position needs to be applied in such a way so that it can process for the reliance of the third party resonance along with that the outsourcing process can filled perfectly all the criteria in an organized way (Hosein et al. 2017). 


Figure 2: Cloud computing and business

(Source: Fagbemi & Olaoye, 2016, p. 11)

The cloud computing process will take care about broadband availability and the reliability of the different services that culminate with cost saving benefits so that the customers can get appropriate support from the banking system, as they are the responsible entity to fulfill the demand of the customers. Any of the unwanted updates from the organization needs to handle perfectly by the help of cloud computing system and it will save up the on prime cost so that the organization can secure their future process by data connectivity with other services as well (Fagbemi & Olaoye, 2016). As the banking sectors have different departments so they need to coordinate with each of the departments in a perfect, way and it will serve for the increase of demand and supply of the services to the customers within a perfect time frame (Chaney, 2017). The cloud computing technique that AMP Limited applied in their operation technique has the capability of taking care of the database management, several business applications, data analysis process, customer relationship management and human resource management. 

Conclusion: 

The accounting process for the AMP Limited will proceed with the order processing or any request from the customers, then analysis of the services that the organization is going to serve other than that it will focus to the accounts receivable. Cash receipts will do by the help of the transaction processing systems and the accounts payable with the cash disbursement to the customers. then by the help of the reporting system the organizational financial and accounting transaction technique will get maintained by general ledger and further process of several information. The entire operational process in the finance section needs to be perfect so that the organization can able to reach out to the desirability level of the customers.  

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